Immersion Co. (NASDAQ:IMMR) Receives $11.50 Consensus PT from Brokerages

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Immersion Co. (NASDAQ:IMMR) has earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.50.

A number of brokerages have recently commented on IMMR. Zacks Investment Research raised shares of Immersion from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine raised shares of Immersion from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th.

Shares of NASDAQ:IMMR opened at $7.54 on Friday. The company’s fifty day moving average price is $7.50 and its 200-day moving average price is $7.70. The firm has a market capitalization of $246.42 million, a price-to-earnings ratio of -9.92 and a beta of 1.16. Immersion has a one year low of $6.40 and a one year high of $10.74.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.09). The company had revenue of $10.60 million during the quarter, compared to the consensus estimate of $11.34 million. Immersion had a negative return on equity of 26.66% and a negative net margin of 68.35%. Immersion’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) EPS. As a group, research analysts forecast that Immersion will post -0.67 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Immersion by 979.7% in the 2nd quarter. Royal Bank of Canada now owns 10,873 shares of the software maker’s stock worth $83,000 after buying an additional 9,866 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in shares of Immersion during the 3rd quarter valued at $84,000. Rational Advisors LLC bought a new position in shares of Immersion during the 3rd quarter valued at $210,000. California Public Employees Retirement System grew its holdings in shares of Immersion by 40.2% during the 4th quarter. California Public Employees Retirement System now owns 34,850 shares of the software maker’s stock valued at $259,000 after purchasing an additional 9,999 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Immersion by 65.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 36,648 shares of the software maker’s stock worth $279,000 after purchasing an additional 14,469 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

About Immersion

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium patent licenses, haptic technologies to original equipment manufacturers.

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